QUESTION 3 Part A Kino, Vihang and Triwen are in partnership with profe shared in the articol 221 repectively The partnership agreement provides the following . Interest on capital to be credited at 10% pa Interest on drawings to be charged at 12p.. Dhiwen is to receive salary in addition to any profit share Loans by partner to the business are an internautes The following information relates to the 30 June 2020 count balances before apling any interest payments and before the profit distribution Capital - ise 1.7.2019 2.500 Capital - Yheng 1.7.2015 62.500 Capital Zhiwen 1.7.2019 3120 Retained earnings - Xiao 1.7.2019 13.750 Retained earnings -heng 1.7.2019 Retained camings - Zhiwen 1.7.2019 25.000 Gross pret 200.000 Operating expenses 137.500 Salary due to Zhiwen 52 500 Drawings ao 72.500 Drawings - Yheng Drawings.Zhiwen 112.500 37.500 In addition Xiao made a short-term foan to the business of 5,000 Borland Zwevested a further 535,000 cash as Capital on June 30, 2020. Required Using Taccoontledger format for parts - Prepare the profit and Loss Summary Account Prepare the Profit Distribution Account Prepare the partner Tetained Emin Accounts W. Prepare the statement of Changes in the QUESTION 3 Part A Profit and Loss Summary 30/6 306 Protestation 10/6 Xiao, Ratamad aming ares) S35 000 06 30/6 30/6 + Yiheng, Retained Earnings 1/7 Balance $30 000 30/6 30/6 30/6 Zhiwen, Retained Earnings 1/7 30/6 Balance $20 000 30/6 30/6 30/6 30/6 XYZ PARTNERS Statement of Changes in Partners' Equity for the year ended 30 June 2020 CAPITAL Xiao Yiheng Zhiwen Total Capital balances 1 July 2019 Additional capital investment Capital balances 30 June 2020 RETAINED EARNINGS Balances 1 July 2019 Profit allocation/Equity increase Less: Drawings Balances 30 June 2020 TOTAL EQUITY QUESTION 3 Part A Kino, Vihang and Triwen are in partnership with profe shared in the articol 221 repectively The partnership agreement provides the following . Interest on capital to be credited at 10% pa Interest on drawings to be charged at 12p.. Dhiwen is to receive salary in addition to any profit share Loans by partner to the business are an internautes The following information relates to the 30 June 2020 count balances before apling any interest payments and before the profit distribution Capital - ise 1.7.2019 2.500 Capital - Yheng 1.7.2015 62.500 Capital Zhiwen 1.7.2019 3120 Retained earnings - Xiao 1.7.2019 13.750 Retained earnings -heng 1.7.2019 Retained camings - Zhiwen 1.7.2019 25.000 Gross pret 200.000 Operating expenses 137.500 Salary due to Zhiwen 52 500 Drawings ao 72.500 Drawings - Yheng Drawings.Zhiwen 112.500 37.500 In addition Xiao made a short-term foan to the business of 5,000 Borland Zwevested a further 535,000 cash as Capital on June 30, 2020. Required Using Taccoontledger format for parts - Prepare the profit and Loss Summary Account Prepare the Profit Distribution Account Prepare the partner Tetained Emin Accounts W. Prepare the statement of Changes in the QUESTION 3 Part A Profit and Loss Summary 30/6 306 Protestation 10/6 Xiao, Ratamad aming ares) S35 000 06 30/6 30/6 + Yiheng, Retained Earnings 1/7 Balance $30 000 30/6 30/6 30/6 Zhiwen, Retained Earnings 1/7 30/6 Balance $20 000 30/6 30/6 30/6 30/6 XYZ PARTNERS Statement of Changes in Partners' Equity for the year ended 30 June 2020 CAPITAL Xiao Yiheng Zhiwen Total Capital balances 1 July 2019 Additional capital investment Capital balances 30 June 2020 RETAINED EARNINGS Balances 1 July 2019 Profit allocation/Equity increase Less: Drawings Balances 30 June 2020 TOTAL EQUITY